Exchange Rate in Euro Area
The euro weakened in the mid-2010s, influenced by the European sovereign debt crisis and monetary easing by the European Central Bank. However, it saw periods of strength, particularly as the US Federal Reserve pursued its own easing policies. In late 2022, the euro briefly hit parity with the dollar for the first time in two decades. Overall, over the last decade, the euro lost ground against the dollar, on the back of lower interest rates and weaker economic growth prospects than the U.S.
The exchange rate ended 2022 at USD 1.07 per EUR, compared to the end-2021 value of USD 1.14 per EUR. For more exchange rate information, visit our dedicated page.
Euro Area Exchange Rate Chart
Note: This chart displays Exchange Rate (USD per EUR, eop) for Euro Area from 2014 to 2023.
Source: Macrobond.
Euro Area Exchange Rate Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Exchange Rate (USD per EUR, eop) | 1.12 | 1.22 | 1.14 | 1.07 | 1.10 |
| Exchange Rate (USD per EUR, aop) | 1.12 | 1.14 | 1.18 | 1.05 | 1.08 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects European exchange rate projections for the next ten years from a panel of 48 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exchange rate forecast available for European exchange rate.
Download one of our sample reports to visualize what a Consensus Forecast is and see our European exchange rate projections.
Want to get access to the full dataset of European exchange rate forecasts? Send an email to info@focus-economics.com.